Energy Prospectus

REPX is up over $3/share today thus far, and $16/share in the last month. The acquisition closed last week, and today the regular quarterly dividend was announced (no increase), but otherwise I have seen nothing to account for such a strong move. Is news leaking about the results of the water flood?

Any other possible explanations?

I'm just sitting back and enjoying it

Truist Securities Raises Price Target on Riley Exploration Permian to $60 From $43, Maintains Buy Rating
Apr 11, 202310:40 EDT

REPX
+6.83%
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: www.mtnewswires.com/contact-us)

The Pecos Acquisition that closed on April 4 is a REALLY BIG DEAL for a company of this size. In addition to adding ~7,200 Boepd of production (58% oil and 23% high value NGLs) it adds a lot of "running room".

My valuation of $54/share is based on 4.5 X annualized operating cash flow per share. If the Company's Q1 results and updated guidance confirm my forecast model assumptions a valuation multiple of 5X will be justified, pushing my valuation up to $60/share.

Riley only has 20.2 million shares outstanding, so small changes in the forecast models and rising oil prices can move the share price a lot higher.

Bought in at 35, wish I had listened when you were talking about it at $30! Great ride!

Any idea why the beat down of Riley today? Off 4% while others are going Green now.